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Snapchat maker Snap Inc. missed Wall Street’s expectations for its second quarter as a public company, sending its stock diving more than 16% in after-hours trading to an all-time low.

The number of daily Snap users only increased by 7 million from the first quarter; analysts were expecting that number to go up by 10 million. Snap also fell short of the Street’s revenue expectations. And the company’s net loss ballooned to $US443 million, compared to $US116 million at the same time last year.

It wasn’t all bad news: The company did manage to grow its average revenue per user for the quarter to $US1.05 from $US0.50 in the year-ago period, a healthy increase of 109%.